Reuters — HC2 Holdings Inc., a company run by former hedge fund manager Philip Falcone, said on Tuesday it has made a bid to buy U.S. grain handler Andersons Inc for about US$1 billion in cash. Andersons is not looking to be acquired, the company’s new CEO told Reuters a day earlier. “As a public […] Read more
U.S. holding company offers to buy grain handler Andersons
U.S. grains: Prices soar as fund money flows to commodities
Chicago | Reuters — U.S. grain and soy futures jumped on Tuesday as investors sunk money into commodities, extending a run-up in prices linked to poor weather that has hurt harvests in South America. Commodity funds were net buyers of up to 14,000 corn contracts and 11,000 soybean contracts, a hefty amount that helped lift […] Read more
U.S. grain firms rejecting GMO crops that lack global approval
Reuters — Across the U.S. Farm Belt, top grain handlers have banned genetically modified crops that are not approved in all major overseas markets, shaking up a decades-old system that used the world’s biggest exporting country as a launchpad for new seeds from companies such as Monsanto. Bold yellow signs from global trader Bunge are […] Read more
U.S. kills 39,000 turkeys in low-path bird flu outbreak
Chicago | Reuters — U.S. authorities destroyed 39,000 turkeys in Missouri due to an outbreak of a mild form of avian flu, the World Organization for Animal Health said on Tuesday, as officials remained on alert for new cases. State authorities also have begun a quarantine and taken surveillance measures around the farm in Jasper […] Read more
CME to close New York trading floor in computers’ victory
Chicago | Reuters — CME Group will shut its New York trading floor at year’s end as computerized trading claims another victim from the world’s old-school financial system. Options pits, where trades in commodities like gold, silver and oil take place face-to-face instead of electronically, will close a year after the CME shut most of […] Read more
U.S. grains: Soybeans set eight-month highs in comeback rally
Chicago | Reuters — U.S. grain futures jumped on short-covering and technical buying on Tuesday, with soybeans closing at eight-month highs after a see-saw session. Heavy buying by commodity investors helped drive the gains, with funds snapping up an estimated 15,000 soybean contracts and 20,000 corn contracts at the Chicago Board of Trade, traders said. […] Read more
U.S. grains: Soy dips as farmers are expected to expand plantings
Chicago | Reuters — U.S. soybean futures on Tuesday extended a setback from the nearly eight-month highs reached a day earlier, as wet weather fueled projections that farmers will plant more fields with the oilseed than previously expected. Rainy, cool conditions in the U.S. South and Midwest could prompt growers to switch one million to […] Read more
U.S. grains: Soybeans retreat from August peak
Chicago | Reuters — U.S. soybean futures slumped on Monday as traders took profits after prices reached their highest point since August on technical buying and last week’s government forecast for lower-than-expected plantings. Corn prices ended mixed as traders digested the U.S. Department of Agriculture’s (USDA) estimate for much larger-than-expected U.S. plantings of the yellow […] Read more
End of China’s corn stockpiling threatens global feed trade
Chicago | Reuters — Grain traders worried on Tuesday about the risk for reduced demand from China after the government said it would scrap its corn stockpiling program at a time when global markets are awash with excess supplies. Traders said importers in China would likely reduce purchases of farm products used to feed livestock, […] Read more
ADM suing CP over 2013-14 rail service disruptions
Chicago | Reuters –– Archer Daniels Midland has filed a lawsuit against Canadian Pacific Railway over service disruptions in 2013 and 2014 at crop-processing plants in North Dakota and Minnesota, alleging they stemmed partly from cost-cutting and the Canadian railroad’s pursuit of merger partners. Chicago-based ADM, one of the world’s largest grain traders and processors, […] Read more
Canadian Cattlemen Presents: Depth of Field
